USD/MXN bears flirt with 18.20 amid five-day losing streak as banking, inflation woes recede – by anilpanchal7 USDMXN RiskAversion Inflation Banks Currencies
The quote’s latest weakness could be linked to the market’s cautious optimism surrounding the health of the global banking system, as well as the likely easing in recession woes in some of the developed nations due to the double-barrel attack of COVID-19 and geopolitics. However, a comparatively less hawkish bias for the US Federal Reserve than the Banxico appears the key catalyst for the USD/MXN pair’s south-run.
On the same line could be the mixed US data as the Conference Board Consumer Confidence rose to 104.2 in March, versus 101.0 expected and an upwardly revised prior figure of 103.4. Further, US Housing Price Index rose 0.2% MoM in January versus -0.6% expected and -0.1% prior while the S&P/Case-Shiller Home Price Indices matched 2.5% YoY forecasts for the said month compared to 4.5% previous readings.
Amid these plays, US Treasury bond yields print a three-day uptrend while the S&P 500 Futures print mild gains, the first in three. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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